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Real Estate Licensing Virginia Real Estate Salesperson Sample Questions:

1. The purpose of discount points is:

A) to lower the interest rate over the life of the loan
B) to lock in an interest rate for a specified time prior to closing
C) to lower the property value for purposes of tax savings
D) to lower the amount due at closing

2. According to the Virginia Residential Landlord Tenant Act (VRLTA) what is the maximum amount a landlord may keep as a security deposit?

A) one month's rent
B) six months' rent
C) two months' rent
D) $2,000

3. A leasehold agreement where the base rent changes is called a:

A) lease-purchase agreement
B) net lease
C) percentage lease
D) variable lease

4. In which of these cases should an agent disclose information about someone's HIV/AIDS status?

A) only when a buyer client insists on knowing this information
B) Agents should never disclose or inquire about someone's HIV/AIDS status.
C) only if the seller or tenant's status has caused the property to be stigmatized
D) only if the seller has previously made their HIV or AIDS status public

5. What would make claims based on a contract unenforceable?

A) assignment, mediation, and arbitration
B) the statute of limitations and doctrine of laches
C) specific performance, rescission, and forfeiture
D) mutual assent, lawful objective, and reality of consent

Solutions: